Finance & economics | A high-interest-rate phenomenon

Young collectors are fuelling a boom in Basquiat-backed loans

Auction houses are on a lending spree

Sotheby's art handlers hold Andy Warhol and Jean-Michel Basquiat's "Untitled" during a media preview for Sotheby's upcoming "New York Marquee Evening Sales"
Photograph: Getty Images

Buying art can be a nerve-racking experience. But investors have long been able to console themselves with the thought that, if their purchase plummets in value, they will at least have something nice on their wall. Now they can also console themselves that they will have something to borrow against.

This article appeared in the Finance & economics section of the print edition under the headline “Banking on Basquiat”

From the June 1st 2024 edition

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